Nigerian fintech company focused on mobile payments and financial services, aiming to expand its operations in Kenya.
Kuda launches remittance wallet for diaspora users after processing ₦8.5tn in Q1
Kuda Technologies launched a multicurrency wallet to serve its growing diaspora customer base. The new wallet feature allows users abroad to send pounds and euros to Nigeria.
Next Wave: Lemfi’s bet on immigrant credit shows where remittance fintechs are headed
Lemfi becomes the first African fintech to offer credit to immigrants in the UK. Moniepoint, another major player, plans to develop a credit product for immigrants as part of its long-term roadmap.
Early-Stage Fintech Funding Trends in Africa
The number of fintech companies in Africa more than doubled between 2020 and 2024. Fintech sector revenue is projected to reach $230 billion by 2025.
Nigeria Fintech Funding Trends 2025
Nigeria accounted for 47% of all fintech deals and 44% of total funding in Africa in 2024. Major funding rounds included Moove and Moniepoint, each raising $110 million.
How old narratives still shape the future of African startups
Africa represents 17% of the world’s internet users, with countries like Morocco and Nigeria leading in internet and mobile penetration. The continent is home to unicorns like Moniepoint, MNT-Halan, and Wave, demonstrating its capability to produce globally competitive startups.
